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SURPRISE! Economy SHRANK In 4Q

As voters went to the polls in November to reelect President Obama, many of them buying into his campaign rhetoric that we had finally turned the corner and things were improving, the economy was actually contracting by 0.1 percent. That is the first quarter that the economy shrank since the Great Recession technically ended. To put this in perspective, if the quarter we are currently in also shows a drop, then that technically puts us back in a recession.